As the euphoria in the stock market continues to build with each new high in the major averages . In the short period since the election it seems that many have thrown caution to the wind with a few analysts using those most dangerous words "this time is different."

Stocks sunk today as the U.S. dollar continues its rise, and oil prices dropped. The S&P 500 declined 0.2% to 2,176.94 today, while the Dow Jones Industrial Average fell 54.92 points, or 0.3%, 18,868.14, its first drop after seven days of gains. Gluskin Sheff's David Rosenberg is "getting that late-cycle feeling." He explains why: The Fed cycle is resuming and as such history says this expansion has no more than two more years of shelf-life — just in time for the mid-term election.

Just after noon on Friday it seemed as though stocks were going to finish the week slightly lower for the week but then the news from the FBI regarding new emails rocked the market. The S&P futures dropped 20 points in just over an hour. Though the market recouped much of these losses the tone of the market definitely changed. Investors are wondering whether the start of the new month will mark the start of a new more friendly market or whether the end of October is setting the stage for more investor pain. In last week's column I looked at the last three-election year markets (Market Insights ...